Question: I NEED HELP ON HOW TO ADD AN ENTRY ON THE CITY OF BINGHAM PLEASE. I'm finding it hard to input the data on the
I NEED HELP ON HOW TO "ADD AN ENTRY ON THE CITY OF BINGHAM" PLEASE. I'm finding it hard to input the data on the Smithsville Bingham
[Para. 4-a-6]The General Fund collected the following amounts in cash:
Current year Real Property Taxes$6,484,000
Delinquent Taxes 348,000
Interest and Penalties Receivable on Taxes 23,860
Sales Taxes 748,000
Licenses and Permits 479,000
Fines and Forfeits 519,000
Intergovernmental Revenues 515,000
Charges for Services 361,000
Miscellaneous Revenues 226,500
Total $9,704,360
Required:Record the receipt of cash and the related credits to receivables and revenues accounts, as applicable, in both the General Fund and governmental activities journals. (Select "Received in Cash" in the drop down[Transaction Description]menu in the Detail Journal related to the General Fund revenue entries.) For governmental activities at the government-wide level, all Licenses and Permits and Charges for Services were attributable to the General Government function as Program Revenue. Fines and forfeits were collected by General Government departments in the amount of $200,000 and by Public Safety departments in the amount of $319,000. Intergovernmental Revenues should be credited to "Program RevenuesGeneral GovernmentOperating Grants and Contributions." (In addition to the cash collection, remember to recognize revenue in the General Fund for the delinquent taxes and interest and penalties collected by reducing the deferred inflows of resources balance. These revenues were not expected to be collected within 60 days of year end, thus they were not considered "available" under the modified accrual basis of accounting and were classified as Deferred Inflows of Resources in the General Fund. Select "Previous Deferral" in the drop down[Description]menu in the Detail Journal.)
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